Although XRP's price is fluctuating above $2, a cryptocurrency analyst argues that this level is still low. Comparing the current price action of XRP to the explosive bull run in 2017, the analyst suggests that the market has yet to recognize the full scope of the developing fundamentals of the cryptocurrency.

XRP's price at $2.2 is still undervalued.

Pumpius, a cryptocurrency analyst on X (formerly Twitter), firmly believes that XRP's price is preparing for a stronger surge, arguing that the target of $2.21 is still significantly undervalued. The market expert's analysis clearly compares the current market position with the historical bull run of 2017.

Back in 2017, this altcoin skyrocketed from a low price of $0.005 to an all-time high of $3.84, marking its most historic bull run. At its peak, XRP briefly surpassed Ethereum's market capitalization, securing its position as the second-largest cryptocurrency in the world, just behind Bitcoin.

During this historic bull run, XRP's price surged an astonishing 64,000%, reflecting significant gains despite a lack of real-world use cases, institutional support, or regulatory clarity. According to Pumpius, this price surge was entirely driven by retail investors' fear of missing out (FOMO), without any stablecoin, IPO, or financial infrastructure supporting the cryptocurrency's rapid price increase.

Returning to the present, the context surrounding XRP has undergone significant changes. Ripple Labs, a corporate blockchain company and the largest holder of XRP, has launched its stablecoin, RLUSD, indirectly reinforcing XRP's position in the digital currency space. The company has also secured major brokerage firms and regulatory clarity from the United States, expanding Ripple's market reach and creating a stable environment for XRP's development.

With an IPO reportedly in the works, the infrastructure supporting XRP is stronger than ever, surpassing the conditions seen in 2017. However, despite these developments and milestones, the price of the altcoin has yet to return to its previous all-time highs and continues to trade above $2. Consequently, Pumpius claims that this cryptocurrency has not yet been 'activated', suggesting that it has yet to reach its full potential or achieve the expected growth.

Why this time could be different

Unlike in 2017, XRP's potential is no longer solely based on hype. Pumpius's analysis estimates that if XRP replicates its historical increase of 64,000%, starting from $2.21, its price could reach $1,414.40.

Although this target is entirely speculative, this figure highlights the significant increase that could occur if institutional capital and real-world adoption combine with retail momentum. Pumpius's comments also include a conspiracy theory, alleging that powerful, anonymous entities have been operating behind the scenes to prevent XRP's rise.

According to this theory, the analyst asserts that the U.S. SEC's lawsuit against Ripple is not just about compliance but also a calculated move to delay adoption and weaken retail momentum. The underlying message is that XRP's disruptive potential has posed a threat from the very beginning, allegedly leading to efforts to delay its growth and prevent widespread accumulation before institutions are ready to enter the market.